so if you haven't heard the news this was just reported about a half hour ago
http://www.nytimes.com/2008/09/26/business/26wamu.html?ref=us
I know a lot of people are worried who have money in these accounts but it says account holders are fine. so i guedd there's no more WOOHOO bank.
I'm glad i work for a stable bank
JP Morgan bought them out but all the deposits are still A-OK at this point.
Thank goodness it's not like that other bank. >.>
try to change accounts on the bank of america site; i checked just for shits 'n giggles, and they're getting slammed with people trying to change over.
Hahaa my friend freaked out about this just a little bit
:T i has bank of america so we is cool
$100,000... not enough insurance...
Statement by JPMorgan.
(http://www.jpmorganchase.com/cm/BlobServer?blobtable=Document&blobcol=urlblob&blobkey=name&blobheader=application/pdf&blobwhere=jpmc/pdfdoc/JPMC-WaMu_Press_Release.pdf)
It is kind of a relief but I am still worried. D:
Mostly about my outgoing orders though. >.>;
But its really sad because Wamu has such a long history. Its always sad when an old, trusted company dies.
Quote from: Sunara Ishi on September 25, 2008, 11:22:25 PM
Statement by JPMorgan.
(http://www.jpmorganchase.com/cm/BlobServer?blobtable=Document&blobcol=urlblob&blobkey=name&blobheader=application/pdf&blobwhere=jpmc/pdfdoc/JPMC-WaMu_Press_Release.pdf)
It is kind of a relief but I am still worried. D:
Mostly about my outgoing orders though. >.>;
But its really sad because Wamu has such a long history. Its always sad when an old, trusted company dies.
Just be glad its not worse. We're all screwed if Wells Fargo goes under(they are REALLY OLD BANK).
Speaking of Wells Fargo, they have been pretty quiet as of recent....
Sounds like right now everyone should just hide there money under a mattress. Good thing theres such things as credit unions.
I'm scared about Wells Fargo as well. I use them, even when I go to Safeway.
Quote from: rude32 on September 25, 2008, 11:44:40 PM
Sounds like right now everyone should just hide there money under a mattress.
Except that once things get a lot worse, there will be a lot of house break-ins. >.>;
Lol. Wells Fargo is so old that you immediately associate it with a stage coach. -.-;
We have to just hope I guess.
According to a recent SF Chronicle article, Wells Fargo is doing fine at the moment (http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/21/BU4F130FO3.DTL&hw=Wells+Fargo&sn=001&sc=1000). Hopefully it remains that way.
I use wamu, I'm not worried.
Quite frankly, it's rather stupid to start panicking.
FDIC insurance was created to guarantee the safety of your money in the first place.
Quote from: Steve.Young on September 26, 2008, 10:58:42 AM
I use wamu, I'm not worried.
Quite frankly, it's rather stupid to start panicking.
FDIC insurance was created to guarantee the safety of your money in the first place.
Unless you happen to have more than what they insure in the banks. Aha... >.>
You never want to stick your money in a mattress. Stick it in a fireproof safe.
Quote from: XpHoBiaX on September 26, 2008, 09:56:42 PM
You never want to stick your money in a mattress. Stick it in a fireproof safe.
That's drilled to the floor.
That's a crazy deal they got there - JP Morgan bought it for $1.9 billion, whereas the federal government was worried that its buyout would cost $30 billion.
I use WaMu, too, but I used to use American Savings before they got bought out. Probably won't change my bank because of this.
SO glad I have my money in Bank Of America. :P